There is a lack of context

[GoldfishLord]

Consider the following example of a noun phrase in which a prepositional phrase is used to post-modify the head noun.

The noun phrase is the coat of many colors and the head noun is coat. This head noun is pre-modified by the identifier the. In addition, it is post-modified by the prepositional phrase of many colors. It is a simple matter to determine if this complex structure is functioning as a complete noun phrase, as it is always possible to substitute a pronoun for a whole noun phrase. So, in the utterance the coat of many colors was beautiful a pronoun may be substituted for the noun phrase to produce the modified utterance it was beautiful. Here is a further example of a prepositional phrase being used to post-modify a noun phrase.
(Reference: https://www.sltinfo.com/prepositional-phrases/ )

There is a lack of context.
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I'd like to know if, according to the passage, the orange part has the same grammatical construction as the blue part, and may be substituted with the pronoun it.

 

[5jj]

Yes.
Yes.

Pronouns occasionally take a different position of the full NP they represent. There is lack of context would become There it is.

 

[probus]

Woot!

 

[Rover_KE]

What does ‘Woot!’ mean, probus?

 

[probus]

"Woot" was an allusion to a tasteless but extremely popular hiphop number. I think the title was Woot There It Is. If it didn't ring a bell with you, I'd say consider yourself fortunate and feel proud of your musical good taste.